I’ve talked to numerous families in PA District 6 who are struggling with the Student Loan Debt Crisis. They’re being crushed by this unreasonable financial burden. We need to address this issue immediately, because it will only get worse if we ignore it.
Some students are being charged interest rates as high as 13 or 14 percent. At those rates, they can barely handle the monthly interest payments, let alone start paying down the principal.
Luckily, there is a common sense solution to this crisis that Congress can act on right away. I propose that we lower the interest rates to a manageable level (2.59%), so that our younger citizens can pay back their obligations and live out the American Dream.
Congress sets the rates, and Congress has the power to lower the rates. If elected, I will make it a priority to ease this financial burden for the next generation of Americans.